NO.PZ2022010501000006
问题如下：
Convenable Capital Management manages an equity portfolio for the Flender Company. Cash held in the portfolio is invested by Flender’s existing custodial bank. Must Convenable include cash and cash equivalents in the portfolio return calculations?
选项：
A.Yes
No, the cash is not invested by Convenable
No, Convenable does not have discretion over the selection of the custodian
解释：
A is correct.
现金和现金等价物的回报必须包括在所有回报计算中，即使公司不控制特定的现金投资。
The GIPS standards state, “Returns from cash and cash equivalents must be included in all return calculations, even if the firm does not control the specific cash investment(s).”
这里看到问答NO.PZ2022010501000006，这是公司的账户决定的，不是客户决定的。
疑问：这里说的是在F' existing custodial bank，F不就是客户吗？问答中提到的“公司”不是Convenable Capital Management 吗？
然后这个管理的过程是怎么样的，就是账号其实都不用新开，都是直接资产管理公司拿着客户提供的客户自己的账户去操作么？
